Transparency Market Research observes that the competitive landscape in the global sports nutrition products market is intensely competitive. Several dominant players are vying to make strategic acquisitions with smaller players to increase their geographical reach and product portfolio. The leading players in the market are Yakult Honsha Co Ltd., Pepsi Co., Reckitt Benckiser Group Plc, GNC Holdings Inc., Nestlé S.A., and The Coca-Cola Co.
The market is also experiencing stiff competition from the local players as consumers opt for local products due to remarkable price difference. “The rapid pace of urbanization and the increasing purchasing power is going to open up chances for bigger players to improve their sales in the coming years,” states the lead author of this research report. However, the market does face a huge challenge from substitutes and counterfeit products.
Demand for Sports Food Picks Up as Consumers Aims to Achieve Fitter Living
The research report states that the global sports nutrition products market will be worth US$52.55 bn by the end of 2020. During the forecast years of 2014 and 2020, the global market will expand at a CAGR of CAGR of 8.5%. Analysts report that North America will continue to dominate the global market as the regional market expands at a CAGR of 8.0% during the forecast period. In terms of products sports food will assume lead as the value of the segment will touch US$5.44 bn by the end of 2020. The growing number of consumers option to lead fitter and healthier lives will augment the demand for sports food.
Proactive Approach of Consumers toward Health Triggers Demand for Sports Nutrition Products
The rising disposable incomes is the primary growth driver for the global sports nutrition products market. The changing perspectives towards sporting activities as more and more individuals are realizing its advantages is building a positive outlook for the global sports nutrition products market as well. The unfortunate result of changing lifestyles such obesity and related problems has encouraged consumers to take up sports as a constructive means to exercise and to keep healthy. Thus, consumers have triggered a demand for sports food and sports drinks to supplement and nourish the body with the required nutrients to keep up with the outdoor activities. These products are also gaining traction as individuals are trying to steer clear from cardiovascular diseases, cancer, and musculoskeletal disorders amongst others.
The growing consciousness amongst individuals about appearance has also fueled the demand for sports nutrition products in the recent years. Furthermore, growing number of nutritionists prescribing protein as a key nutrient in building muscle, several fitness enthusiasts are opting for protein-rich food products for its long-term benefit. Introduction of new ingredients and products such as whey protein and creatine have made a huge impact on the revenue of the global sports nutrition products market. These effective products come with a promise of building endurance and strength of the body, which has played a significant role in the growth of the global sports nutrition market. The unstoppable pace of urbanization and the stupendous rise in the disposable incomes are also responsible for the flourishing sports nutrition products market.
Introduction of Counterfeit Products Encroaches on Consumer Base
The headstrong market drivers are being stymied by growing number of distribution channels. The expanding distribution channels have led to increasing number of intermediaries, which has hiked the prices of products and led to chances of goods getting damaged. Additionally, the widespread availability of counterfeit products is also acting as a significant impediment to the global market. Growing number of consumers are opting for low-priced products instead of branded ones without realizing the poor quality of the former items.
The review is based on Transparency Market Research’s report, titled “Sports Nutrition Products Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014-2020.”
The global market for sports nutrition products is segmented into:
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